Top 4 Credit Card Profits Spiral Downward

Top 4 Credit Card Profits Spiral Downward

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Profits (after tax) among the nation’s top four bank credit card issuers declined 8.0% in the first quarter (1Q/16), compared to one year ago (YOY), and down 10.8% sequentially (QOQ). BofA was the only issuer with a positive YOY gain in credit card profits. Citi credit card profits collapsed by more…

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Briefs: BUZZ POINTS; ACCULYNK; USAT; and FRAGMOB

In Other News: BUZZ POINTS (study); ACCULYNK (Payzur); USAT (Coastal Canteen); and FRAGMOB (CMS). BUZZ POINTS – Buzz Points, the Austin-based rewards and marketing platform, announced the results of “The Total Economic Impact of Buzz Points,” a commissioned study conducted by Forrester Consulting on behalf of Buzz Points. Forrester interviewed four community financial institutions (CFIs)…

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Big 6 Issuers Losing Marketshare to Smaller Players

Big 6 Issuers Losing Marketshare to Smaller Players

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] The Big 6 issuers, based on U.S. total outstandings of $950 billion, control 49.3% of the U.S. bank credit card business at the end of the first quarter (1Q/16). However, as a group the Big 6 lost 250 basis points (bps) quarter-to-quarter (QTQ) in marketshare to smaller issuers in the first quarter.…

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PAYFORT Integrates Mastercard Payment Gateway Services

PAYFORT Integrates Mastercard Payment Gateway Services

Mastercard and PAYFORT, a major Arab online payment service provider, have announced a strategic collaboration to introduce the next generation of payment solutions – enabled by Mastercard Payment Gateway Services. Building on Mastercard’s proven approach to helping businesses create better online purchase experiences for their customers, the agreement will enable e-commerce merchants using PAYFORT’s online…

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Oberthur X-Press Offers 5-Day Turnaround on EMV Cards

Oberthur X-Press Offers 5-Day Turnaround on EMV Cards

Oberthur Technologies has launched its X-Press Solution which provides turnkey, expedited EMV-card supply within five days for card orders up to 25,000. OT is a one-stop shop for card issuers with large or small card orders at national banks, credit unions and community banks. The X-Press Solution features full product support for MasterCard, Visa, American…

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Hispanic Spending Growth Outpaces Non-Hispanics

Mobile Payment Technology Adoption Lags in the US

The number of Hispanic households has been growing faster than the number of non-Hispanic households. Second, average spending by Latino households has increased more than average spending by non-Hispanic households. These two basic variables (more rapid household growth + higher growth in average spending) add up to a higher rate of growth in aggregate spending…

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Briefs: CURRENCIES; CPI; BREEZEWORKS; and BLUESNAP.

In Other News: CURRENCIES (Board); CPI (CFO); BREEZEWORKS (prompt.ly); and BLUESNAP (Android). CURRENCIES DIRECT – Currencies Direct, the leading UK non-bank provider of foreign exchange and international payment services, today announced that Antony Jenkins, formerly CEO of Barclays Plc, has joined the company as non-executive Chairman. He will focus on further advancing Currencies Direct’s digital…

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Australian Card Spending YOY Growth Remains Brisk

Australian Card Spending YOY Growth Remains Brisk

[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”0″ ihc_mb_template=”1″] Australian credit card gross dollar volume (GDV) headed upward, posting a 10.9% year-on-year (YOY) in May. Purchase dollar volume (PDV) increased 10.7% YOY and cash dollar volume (CDV) was 15.5% YOY in May. GDV rose in May to AU$26.9 billion, compared to a revised AU$24.3 billion in the prior month and…

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